Word reaches the weeklyFiX that Darren Coote, UBS’s global head of G10 spot FX trading has left the bank. Coote is well regarded as a trader and manager and has a reputation as one of the more e-savvy FX heads around, which makes it a little strange that his departure coincides with the arrival of what was the Barclays algorithmic trading team. Perhaps the role of head of spot trading might appear undermined if the plan is to run all of UBS’s flow through a black box.
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